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SOLUSDT trade ideas

SOL Trends Sol price was moving between white-blue uptrend channels since Dec. 2023. So there was a clean uptrend path in this direction. But then, price broke white uptrend channel on August first time. Then it moved inside of it for few weeks before it drop below it. Red downtrend channel working well as resistance for the price since Solana's $210 times. When the price reached this red channel it rejected there everytime so far. Now price is currently inside of it. If the price can break this channel up it can continue to white uptrend channel for the retest move. In this case, that retest would point $158- $160 in price. Or this red downtrend channel will work as a resistance again and will push the price down.
by huecoshunter
Solana is going to $170. Here's why:In the weekly chart, the SOL price trend shows constant support from the 50% Fibonacci level at $129.87 and the 50 weekly EMA. Currently, the weekly chart reveals a consolidation phase between the 78.60% Fibonacci level at $198 with the bottom support of 50% Fibonacci level. The lower high formation within the consolidation range reveals a weakness in the bullish momentum. However, the recent possibility of a morning star pattern near the crucial support teases a new bullish cycle. The DMI indicator in the weekly chart reveals an indecisive trend between the VI lines. Further, a declining trend is visible in the ADX line during the SOL price consolidation phase. Hence, the momentum is declining, but the trend still needs to be decided. A bullish cycle will reveal a positive alignment in the VI lines, and a potential uptick in the ADX line will help sustain the uptrend. Using the trend-based Fibonacci level, the SOL price uptrend shows the next resistance at 23.60% at $173. The next resistance lies at the $200 ceiling and the $224 mark. Meanwhile, a Solana whale recently scooped 34,807 SOL tokens, amounting to $4.52 million. This is part of a larger accumulation strategy, with the whale having withdrawn nearly 206,951 SOL tokens worth $29.3 million. This puts Solana in the bullish spotlight for the next month.
Long
by paul_endeo
SOL preppin again for a new round of PRICE GROWTH!SOL has been tamed town a bit after an aggressive rise to 126 -- and correcting healthily below 100. This bluechip coin has seen exponential growth from being a single digit priced asset. Based on recent 4h price data, the coin is preppin another round of price growth from the new higher base at 100. This level seems to be a strong psychological level, a major order block support where buyers are now converging. A retest of the previous peak at 126 and a possible strong break is highly possible. Spotted at 100. TAYOR.
Long
by JSAL
9
SOLUSDT Trend continuation tradeSOLUSDT has been ranging between the 140 and 160 levels, but it has recently broken and closed below this range. This indicates a shift in market dynamics. The market might be heading to retest the area where we observed a bullish impulse leg previously. The break below the upward trendline suggests that the price has entered a consolidating phase, which was signaled by the price being above the trendline and showing bullish momentum. Given this context, the market is expected to push a little further down towards a key round number, which could act as a psychological level of support. The target is support level at 120
Short
by RTED_Investing
Solana Consolidates Near SupportSolana has faced mounting pressure throughout September 2024, as broader market dynamics continue to weigh on its performance. Much like other cryptocurrencies, SOL is reflecting the bearish sentiment that has characterized the market, with the price consolidating after a significant decline. This pattern of weakness aligns with broader trends in the crypto space, where macroeconomic factors such as liquidity outflows and general caution among institutional investors are impacting asset prices. Currently, Solana is trading around $128, slightly above its lower support level of $124, as seen on the Bollinger Bands. The consolidation near this lower band reflects persistent bearish pressure, with SOL hovering between crucial support and resistance zones. Bollinger Bands and Volatility: Solana is positioned near the lower Bollinger Band, indicating continued downside pressure. With a basis at $129.56 and upper resistance at $135.13, SOL remains in a tight consolidation range. The ATR (Average True Range) at 3.50 suggests moderate volatility, meaning sharp price movements are possible, but the current range-bound trading reflects caution. Momentum Indicators: The RSI (Relative Strength Index) is currently at 48.01, indicating neutral momentum. This level implies that while Solana isn't heavily oversold, it doesn't have significant buying momentum either, keeping the market in limbo. The MACD (Moving Average Convergence Divergence), with the MACD line at -1.66 and the signal line at -1.72, suggests a potential weakening of bearish momentum. Although still in negative territory, the positive histogram reading of 0.06 indicates that selling pressure may be tapering off. Parabolic SAR and Stochastic Oscillator: The Parabolic SAR sits above the price at $133.03, reinforcing the existing downtrend. Meanwhile, the Stochastic Oscillator, with %K at 57.77 and %D at 50.51, shows potential for a short-term upward movement, though it remains below overbought levels, signaling room for price gains. Short-Term Outlook Solana appears to be in a consolidation phase, trading between the support at $124 and resistance near $135. If SOL can break above the $135 resistance, it may signal the start of a recovery, particularly if volume and momentum support this move. However, failing to hold above the $127-level SMA could lead to further declines, testing support levels around $122. Market Sentiment and Broader Trends Sentiment around Solana remains cautious, particularly after $34.3 million in institutional outflows during August 2024, and this trend is likely to persist unless there are broader positive market shifts. The crypto market as a whole is contending with volatility, driven by global economic uncertainties and liquidity concerns. Solana’s price is particularly vulnerable due to its higher volatility compared to Bitcoin and Ethereum, reflecting the more speculative nature of its market position. In terms of upcoming catalysts, the Solana Breakpoint 2024 event could provide some momentum if positive developments or partnerships are announced. Until then, the market is likely to remain in a wait-and-see mode, with key levels to watch being $124 for support and $135 for resistance. Conclusion Solana is reflecting broader market uncertainty, consolidating around key technical levels with mixed indicators. The $124-level acts as strong support, and a breakdown below could lead to further downside. Conversely, clearing $135 would be a bullish signal, potentially leading to a recovery. However, given the current sentiment and institutional outflows, traders should remain cautious and be prepared for continued volatility.
by MonoCoinSignal
Solana's Top Pattern More Obvious NowIt is my understanding that sometimes certain signals are not easy to spot when looking at the charts, it is not everybody that has the vision to see, perceive and understand a pattern that is 100% subjective and imaginary... But they exist. It is hard when one is invested, literally, into something to see something that goes against our desired result. But fooling ourselves accomplishes nothing, accomplishes nothing more than loss and pain. While I might not be able to see a top here, some other people can see and they are pointing it out to me with good intentions. The same people pointed the bottom to me with great intention. They said, "Look, it hit bottom and it is going up and it is going to grow and it is going to be great." It did grow and it was great. They are now saying, "Look, it peaked and it is going down and it is going to be horrible." There is no vested interest. There is no money involved. There is nothing to gain, there is nothing to lose. Just sharing exactly what I see with you. I am sharing what I see and showing it to you... What do you make of the chart now as it is? Can you see kind of like a "top pattern" on this chart? What we call a "top" is when prices stop growing, go sideways and then start to go down. ➖ If you consider the action from September 2023 through March 2024, it was clear, it was obvious, it was happening, it was straight up. ➖ If you look at the action after March 2024; it is clear, it is obvious, it is going sideways, it is going down, it is going to drop. It is going to crash and the crash will be really strong. Solana, with billions of capitalization will produce a massive correction and this capital will flow to the smallest Altcoins. Thanks a lot for your support. Namaste.
Short
by AlanSantana
10
SOLUSDT ShortFundamentals The overall crypto market is likely to retrace with the upcoming interest rate cuts across the world. We need to understand the bigger picture, rates are starting to come down as fears of a not so good US economic cycle might be on the next corner. This, plays well into the good-old narrative that BTC (and therefore the rest of the crypto marketplace) tend to follow the equity market. The AI hype is clearly fading away and most of VC capital is now due to be taken as a loss. This may be an enormous driver for the equity markets. So, looking at this medium-long term hypothesis, we must then look for vision-adjusted positions. Before we move to chart analysis, we must see what's going on within the Solana ecosystem. After a few minutes browsing the internet for news related to Solana, we can see that there is not much to go with, therefore the usual hype factor that could diverge SOL from BTC, doesn't seem to be there either. Solana should follow the overall crypto market, led by BTC. Technicals Going into the monthly timeframe, we can immediately see two important things. Double top in the 200s zone, both with severe rejections A clear support base level in the high 120s. A clear range down to low 40s IF 120s break. If we delve deeper into the weekly, we can see that lower highs and lower lows are being formed. It is VITAL to acknowledge the bullish attempt to break above but which was so strongly rejected immediately after. This is a major warning that bulls are just not there yet. However, no clear entry point for me just yet. Going even deeper, to the Daily: We can see what starts to resemble bearish flag/wedge. This aligns with out overall idea for shorts. Now I can start to envision what a possible trade can be. I need to see a clear candle coming down to the low 120s. That will serve as my confirmation. My entry will be in the next candle once it breaks the confirmation candle's low. ideally, I want my entry candle to have made its upper wick before I get in. The reason is simple, I want prices to go lower, lower highs, lower lows, therefore I want to be confident that the lower high was done (most likely done at least). Now, assuming that we got our entry, where do we leave? Do we leave entirely or partially? For that we can look slightly deeper, to the 4H chart. There seems to be a clear range down to 110 and price has bounced strongly from there. Therefore, I'm going for 70/80% partials at slightly above that level, 111/2s. The 20/30% will be left as runners with trailing stops in place.
Short
by TradingAdventures
Massive Move Ahead #SOL's Next Bullish Breakout or Breakdown ? Yello, Paradisers! Could #SOL be on the brink of a major market move? Let's dive into the latest analysis! 💎#SOLUSDT is currently showing signs of a potential bullish continuation from a critical demand zone at $131.46. We've been closely monitoring #SOLANA as it follows a descending channel, and it recently broke above this formation, gaining momentum within this crucial demand area. If the price can maintain this upward momentum, a strong bullish move is highly probable. 💎For this bullish scenario to unfold, #SOL must break above the key resistance level at $134.95. A successful break of this resistance could trigger a significant rally, with the first target set at the internal resistance zone of $147.58. 💎However, caution remains essential! If the momentum falters at the demand zone, we might see a rebound from the lower support area around $127.98–$126.44. A daily close below this support zone would invalidate the bullish outlook and could pave the way for further declines. Stay sharp, Paradisers! Keep a close eye on #SOLANA's price action as the next move could be a game-changer🥂 MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise_Simon